BANCA CARIGE Cassa di Risparmio di Genova e Imperia

Goldman Sachs Italian Regional Conference

London September 2nd, 2008

BANCA CARIGE 1 Agenda

Carige Group Overview

Strategic Plan 2008-2010 and FY 2007 Results

Strategic Plan Execution

1H08 results

Annexes

BANCA CARIGE 2 Banca Carige Group today

~53,000 small shareholders

Fondazione CR Assicurazioni Genova e CNCE Market GliGenerali Imperia

44.09% 14.99% 4.09% 36.83%

Banca Carige SpA Cassa di Risparmio di Genova e Imperia

Banking Insurance Finance Trustee

• Banca Carige • Carige Vita Nuova (life) • Carige AM SGR •Centro Fiduciario •CR Savona • Carige Ass.ni (non life) • Creditis (Consumer •CR Carrara credit) • BM Lucca • BCesarePontiB. Cesare Ponti Main Companies Only

5,820 1.9 M CUSTOMERS 641 BRANCHES & EQUITY EMPLOOSYEES (1.2 M BANKING; 0,7M ASSURANCE) 33676 INSU RAN CE OUTLET S 335.5 BILLION

BANCA CARIGE 3 Among the top 10 Italian banking Groups

Market Cap(1) (€b) Total Assets FY 2007 (€b)

#8 • Ordinary shares 3.8 €b • Savings shares 0.4 €b

Domestic Branch Network FY 2007 (#) Customer Loans FY 2007 (€b)

#8

#8

Source: Group data . Ratios as reported (1) Data as at August 19, 2008 Data do not include ex ISP branches

BANCA CARIGE 4 Among the top 10 Italian banking Groups

C/I (%) FY 2007 Net NPL ratio (%) FY2007

Tier 1 and Total Capital Ratio (%) FY2007

11.1 10.7 10.2 10.1 9.9 9.3 9.2 9.0 8.9 2.7 8.7 3.2 2.8 3.6 1.2 1.4 2.5 2.8 3.6 10.3 8.4 7.5 7.4 8.1 7.8 6.6 6.5 6.1 5.2

BPM BPER UBI UCI BPS CE BC ISP MPS BP ** Source: Company data. Ratio as reported * Data refer to 30-Jun-07

BANCA CARIGE 5 Focus on retail

by segment by area Large Public Other Small SOUTH + EtitiEntities Corporate L 7% 7% Business CENTRE ISLES O 5% 12% 14% 4% A 47% SMEs Individuals N NORTH 36% 33% S 35%

LOANS TO CUSTOMERS 6/2008 : 19.3 €b by segment by area D (ex debt securities) E SOUTH + ISLES Other CENTRE 6% P 13% Affluent 15% Private O & 18% Mass S Market NORTH Corporate LIGURIA 46% 21% I 23% 58% T

S DIRECT DEPOSITS 6/2008 : 20.0 €b

Small business = turnover<1.5m ; SMEs= <100m€; Large Corporate= >100m€ Mass Market= deposits<50k€; Affluent >50k€; Private= >250k€

BANCA CARIGE 6 Review of key financial assets

Loans to customers allocation and concentration Financial assets splitting

Medium/long term loans splitting CARIGE group financial assets (*)

bad loans Structured Equities and 3.2% mortgage loans notes (2) private equity Securitisation € m to individuals 3% Mutual 16% 7% 38.5% funds Equities and private equity 243.9 consumer Hedge funds 4% Securitisation 90.3 credit 1% Mutual funds 155.2 medium/long 3.8% Debt securities (1) 2,512.3 short term term Hedge funds 48.9 24.4% 72.4 % loans to corporates Debt Structured notes (2) 595.8 57.7% securities (1) GRAND TOTAL 3,646.4 69%

(1) Including 383.2 million of swapped debt securities (2) Including 56.9 million of swapped structured Data refer to 30 June 2008. Loans to customers € 19.4 b notes

Cash loans concentration Debt securities, securitisation and structured notes rating (*) First 20 groups First 30 groups First 50 groups 25,0% EposeExposure to SbSub-pimeprime: <1‰< 1‰ No exposure to monoline € m

20,0% BBB Other AAA AAA 176.6 8% 4% 5% AA 1,926.1 A 938.4 15,0% BBB 270.3 A Other 140.0 27% GRAND TOTAL (1) 3,451.4 10,0% AA 56% (1) Including 383.2 million of swapped debt securities (2) Including 56.9 million of swapped structured 5,0% notes Dec 02 Dec 03 Dec 04 Dec 05 Dec 06 Dec 07 Jun 08 First 20 groups 17.6% 16.9% 13.9% 11.3% 10.2% 10.2% 8.1% (*) Data do not include the shareholding in of Italy and the notional value First 30 groups 20.6% 19.3% 16.2% 13.5% 12.2% 12.6% 9.9% underlying customers’ index linked policies First 50 groups 24.7% 22.8% 19.2% 16.7% 14.9% 15.4% 12.3% Data refer to 30-Jun-08 Operational data

BANCA CARIGE 7 Growth through a long season of acquisitions

Year CAPITAL COLLECTED € m Year ACQUISITIONS € m

1994-95 IPO 105 1993 - 99 CdiRiidiSCassa di Risparmio di Savona 228

1996-97 Bond conversion into new shares 61 1991-06 Insurance companies 317

1997 Capital increase underwritten 46 1999-02-06 74 by La Basilese

2000 21 branches from 60 1998 Capital increase underwritten by institutional investors 116 2001 61 branches from Intesa 277

1999 Capital increase underwritten by CNCEP, CDC, WestLB 236 2002 42 branches from 127

2001 Issue of a subordinated loan 400 2003 Cassa di Risparmio di Carrara 174

2003-06 Capital increases and issue of subordinated convertible bonds 521 2004-06 Banca Cesare Ponti 61

2008 Capital increase 957 2008 79 branches from ~ 857 (*) 2008 38 branches from 140 (*)

Total 2,442 Total 2,315

(*) Amount subject to price adjustment

BANCA CARIGE 8 Agenda

Carige Group Overview

Strategic Plan 2008-2010 and FY 2007 Results

Strategic Plan Execution

1H08 results

Annexes

BANCA CARIGE 9 Our strategy

Independence through growth

1990 -1998 1999 -2004 2005 -2007 2008 -2010

Profitable Capital base Expansion and Rationalization integration of the strengthening diversification and branches acquired and opening to & IT innovation new shareholders profitability for profitability enhancement strengthening

BANCA CARIGE 10 2007 results exceed all ’06-’08 Strategic Plan targets

2007

Net income 131 €m 205 €m€m 220 €m

Volumes(1) 47 €b 55 €b€b 57 €b

C/I 66.4% 53.2% 54.7%

ROE adj.(2) 8.3% 10.3% 10.3%

Tier 1 5.4% 7.8% 8.2%

0% 66.6% 100% 2005 % Objectives Starting point objectives 2008 (1) Total deposits + loans achieved (2) Eq uit y net of the rese rve fo r the re val uation of the sha reholding in Bank of Ital y

BANCA CARIGE 11 2008-2010 Strategic Plan: our mission

Carige Group aims to be a national financial conglomerate equipped to provide banking , financial , insurance and pension solutions , focused on retail , pursuant to the development of resources and structures and the enhancement of an integrated multi- multi-channelchannel distribution system

Quality of Conglomerate National Retail resources and Multi-channel structures

• Complete offer of • Widespread • FiFocusing on • Specialisation of • Distribution banking, financial presence in Italy families, SMEs distribution and system based and insurance especially in and local public production structures on branches, products and certain areas and mobile and entities • Unitary management services strong presence in remote channel of the Group’s key- Liguria • Widespread and • AtiitAggregation point intensive use of expertises for smaller banks • Focused on the technology • Professional relationship with development of local communities human resources • IT system in line with best practice

BANCA CARIGE 12 Core priorities of 2008 – 2010 Strategic Plan

PRODUCTION • Profitability enhancement of each business area (lending, wealth management, payment system, insurance) •Integratibion between Insurance an d Ban king Bus iness Enhancement of productivity, DISTRIBUTION efficiency and • Increasing volumes per employee: profitability ¾ cross-selling, up-selling and retention in Liguria ¾ raising market share outside Liguria • Growth of intermediation, above all in areas outside Liguria where the presence is already significant • Integration of the 79 ex ISP branches and 38 ex Unicredit Growth of volumes and • Increasing income from subsidiaries maintenance of consistent equity ADMINISTRATION levels Human Resources: • Maintenance of a standard consistent with the group’s needs • Development of skills and management of talents

Risk GOVERNANCE AND CONTROL management • Process innovation through investment in technology • Controlling the economic impact of all kinds of risk • Capital management

BANCA CARIGE 13 2010 Group’s targets

2007 CAGR CARIGE GROUP 2006 2007 2010E 07 PF (*)-10E PF (*)

Total Deposits (€b) 35.8 37.6 42.6 59.1 11.5% Loans to customers (€b) 16.1 17.5 18.9 27.4 13.3%

Net Profit (€m) 138 205 238 350 13.7% Shareholders’ Equity (€b) 262.6 262.6 363.6 444.4 64%6.4%

Cost Income 57.6% 53.2% 52.6% 49.9% -2.7 pp ROE 5.4% 7.8% 6.3% 8.2% +1.9 pp ROE adj (**) 7.1% 10.3% 7.6% 9.8% +2.2 pp ROAE adj (**) 7.8% 10.4% 9.4% 10.0% +0.6 pp

Tier 1 8.3% 7.8% 8.0% 8.4%

Ratios are net of minority interests (*) 2007 PF d ata i ncl ud e th e 79 ex ISP b ranch es and th e capi tal i ncrease (**) Equity net of the reserve for the revaluation of the shareholding in

BANCA CARIGE 14 Cost income below 50%

REVENUES Cagr €m 2007pf-2010E 1,420 1,096 +9.0% 968 +25.4% 874 +10.8%

COST INCOME %

2006 2007 2007PF 2010E

57.6 53.2 52.6 49.9 OPERATING COSTS Includes the impact of €m investments in IT fllfor 150 million 2006 2007 2007PF 2010E in 3 years 709 577 +7.1% +14.7% 515 503 +2. 4%

2006 2007 2007PF 2010E

2007PF data include the effects connected to the 79 ex ISP branches and capital increase

BANCA CARIGE 15 Revenues growth is expected mainly from net interest income

NET INTEREST INCOME Cagr + 2007pf-2010E 992 +11.1% 723 659 +29.6% +18.1% REVENUES 558 €m

1,420 2006 2007 2007PF 2010E +9.0% 1,096 968 +25.4% NON INTEREST INCOME +10.8% + 874 428 375 +4.5% +18.7% 316 310 -21%2.1% 2006 2007 2007PF 2010E

2006 2007 2007PF 2010E

2007PF data include the effects connected to the 79 ex ISP branches and capital increase

BANCA CARIGE 16 We expect a double digit growth of loans

Cagr Cagr of which: 2007pf -2010E 2007-2010E INDIVIDUALS CORPORATES

16.2 LOANS TO 8.8 11.1 10.6 +14.6% +13.3% CUSTOMERS +10.0% +9.4% €b 6.6 9.7 5.7 +30.3% +12.6% 5.1 18.9 27.4 +1333%.3% 17.5 +17.6% 2006 20072007PF 2010E 2006 20072007PF 2010E 16.1 +8.8% SHORT TERM M/L TERM

19.9 13.6 +13.5% 7.2 12.4 +20.9% +10.5% +15.7% 11.3 4.4 4.7 2006 2007 2007PF 2010E +10.6% 424.2 +5. 1%

2006 2007 2007PF 2010E 2006 2007 2007PF 2010E

2007PF data include the effects connected to the 79 ex ISP branches and capital increase

BANCA CARIGE 17 Both direct and indirect deposits are expected to grow

Cagr 2007pf-2010E + DIRECT DEPOSITS 28.4 TOTAL DEPOSITS €b 18.8 +14.7% 17.4 +15.3% 16.3 +6.6%

59.1 2006 2007 2007PF 2010E 42.6 +11.5% 37.6 +19.1% 35.8 +5.1% + INDIRECT DEPOSITS 30.7 23.8 +8.8% 20.2 +22.4% 19.5 +3. 9%

2006 2007 2007PF 2010E 2006 2007 2007PF 2010E

2007PF data include the effects connected to the 79 ex ISP branches and capital increase

BANCA CARIGE 18 Agenda

Carige Group Overview

Strategic Plan 2008-2010 and FY 2007 Results

Strategic Plan Execution

1H08 results

Annexes

BANCA CARIGE 19 New organisation of distribution network/1

Area Areas (Liguria and Outside Liguria) 2 Sub-areas 10 Zones 81 Sub-area Manager

Staff

Coordinator Private Coordinator Corporate and Affluent and Small Business

Consultant Consultant Private Zone Corporate Manager

Branch 1 Branch 2 Branch…

Consultant Sellers Tellers Consultant Affluent SllBiSmall Business

• Strengthening overall control of the territory by unitary management of neighbouring branches

• Improving branch management : Zone managers are charged with optimising the HR management within their province

BANCA CARIGE 20 New organisation of distribution network/2

Deputy General Manager Distribution

Alternative sale channels Network Outside Commercial planning Network Liguria Communication development and Liguria and Marketing insurance network coordination

New Branches Customer Care Development Commercial control and Retention

Mass Market Private/Affluent Corporate

Management of territory Management of customers and network support

Central structures

• New units aimed at new branch development and commercial development through segment coordinators.

• Ongoing processes of specialisation in customer segmentation.

BANCA CARIGE 21 Value creation via external growth: 79 branches acquired from Intesa Sanpaolo

Carige purchased 79 branches from Intesa Sanpaolo …

79 BRANCHES 1 25 34 Direct Indirect Deposits Deposits 15 €1.4b €3.6b

Loans Customers €1.4b 170,000

4 at 10 March 2008

… achieving an improving market share in wealthy provinces

Turin Pavia Como Venice Padua Rovigo Aosta Sassari

Carige - ante Branches n. 10 5 3 0 3 0 0 3 Market share 0.9% 1.6% 0.9% 0.0% 0.5% 0.0% 0.0% 1.4%

Carige - post Branches n. 25 11 22 18 18 1 1 7 Market share 2.2% 3.4% 6.3% 3.6% 2.9% 0.6% 1.0% 3.3%

The 8 provinces represent:

10.8% of It ali an GDP(**) 82%8.2% of fItli Italian loans (*) 97%9.7%9.7% ooff fItli ItItalianalian ddepositsepos its (*)

(*) Source: Bank of Italy; data at 31 Dec 2007. (**) Source: Unioncamere; data at 31 Dec 2006.

BANCA CARIGE 22 … and 38 branches from Unicredit

• Carige purchased 38 branches from Unicredit for € 140 m (price subject to adjustment) • The deal will be finalised at the end of November

VENETO 1 VERONA 1

EMILIA ROMAGNA 5 1 BOLOGNA 2 38 BRANCHES RIMINI 2 FORLI’ 1 5 UMBRIA 1 Direct Indirect PERUGIA 1 1 Deposits Deposits €0.5b €0.8b 8

LATIUM 8 Loans Customers ROME 8 €0.5b 67,000

SICILY 23 PALERMO 12 MESSINA 4 23 CATANIA 2 AGRIGENTO 2 SYRACUSE 3

BANCA CARIGE 23 ISP and Unicredit branches: a comparison with previous acquisitions

38 79 21 61 42 Unicredit ISP branches BDS Intesa Capitalia branches (at 10/03/08) branches branches branches (at 31/12/07) (2000) (2001) (2002)

Number of branches 38 79 21 61 42 North 6 75 - 36 2 Centre and South 32 4 21 25 40

Loans (€m) 473 1,406 50 619 630 Total deposits (€m) 1,210 5,020 406 1,399 1,491 Intermediation (€m) 1,683 6,426 456 2,018 2,120

Employees 194 554 86 334 397 Employees/branches 5 7 4.1 5.5 9.5

Loans/branches (€m) 12.5 17.8 2.4 10.1 15.0 Total deposits/branches 31.8 63.5 19.3 22.9 35.5

Loans/employees (€m) 2.4 2.5 0.6 1.9 1.6 Deposits/employees (€m) 6.2 919.1 474.7 424.2 21% 383.8 for north branches Goodwill/Total deposits 11.5% 17.1% 14.8% 19.5% 8.4%

Capital strengthening funds the acquisition and of ISP branches and of Unicredit branches

Capital increase (March 2008) ~ 957 €m

Other capital instruments ~460 €m

with no impact on capital ratios

2007 2008E 2010E capital increase Tier I 7,8% branches and >8% >8% acquisition other capital TCR 9,2% instruments >10% >10%

BANCA CARIGE 24 Proven track record in integrating purchased Banks and Branches

C/I ROE Intermediation/ Net Profit/Employee BANKS (%) (%) Employee (€k) BRANCHES (€m)

Pre-deal 2007 Pre-deal 2007 Pre-deal 2007 Pre-deal 2007 Total revenues C/I (*) Intermediation/ Net Profit/Employee (€ m) (%) Employee (€k) (€m) +17.17.66 pp.p..p. +93% -398pp39.8 p.p. 11X Deal 2007Deal 2007 Deal2007 Deal 2007

86.5 10.2 20.3 52.0 Banca del Monte -27.0 p.p. di Lucca (#21) 46.7 CAGR 5.3 +130% 4.6X 1999 2.7 4.6 11.6 %

66.4 Banco di Sicilia 4.5X 39.4 +55% (#21) 17.4 12.4 89.8 -21.8 p.p. 10.1 5.4 19.6 +9.1 p.p. 2000

Cassa di 71.4 56.5 Risparmio 12.7 9.7 49.6 CAGR di Savona (#50) 6.3 10.3% 3.2X 1999 3.6 12.5 -238pp23.8 p.p. +155%

-24.5 p.p. +11.3 p.p. 3.5X +26% 71.3 85 59.0 (#61) 43.7 14.6 73.6 Cassa di Risparmio 2001 35.2 26.2 50.7 5.7 di Carrara (#34) 17.6 7.9 2003 49.1 6.3 6.3 15.3

CAGR 8.3% -30.7 p.p. -24.6 p.p. 3.3X +11.1 p.p. +54% … 91.6 +84% Banca Capitalia Cesare Ponti (#4) 14.0 (#42) 67.0 24.8 2002 74.4 Dec 2004 9.1 52.7 63.6 8.1 38.3 43.7 10.4 5.7 19.2 -3.0 -5.2

“Pre-deal” data refer to the last Annual report before the acquisition. (*): direct costs only “Pre-deal” data of Banca Cesare Ponti refer to 2004 Annual report. #= number of branches # = number of branches

BANCA CARIGE 25 The network after the last two acquisitions

branches branches branches 641 CiCarige ISP Unidiicredit 4 7

38 1/1 69 / 60 46/ 30 58/ 24 72/52/ 47/31 56/18 79 28/20/1718 France 522 2 252/14 56/ 24 137 57/22 4/ 11 1 1/2/5 13 1989 2007 TODAY 41/33/ 35 2 9/34 7 96% 48% 39% 7 11/ 24 3 11/22 100% 72% 71% 2725

% of %%o of Bra nc hes 60/37/ 5351 BhBranches in in Liguria Northern Italy Banking branches 641 Insurance outlets 376

BANCA CARIGE 26 A new plan of internal growth

The Board of Directors conferred to the management the mandate to draw up the new plan of expansion foreseeing a maximum of 26 new branches to be opened between 2009 and 2010 in regions adjoining Liguria (Lombardy, Piedmont, Emilia- Romagna, Tuscany), to enhance the brand where it already exists.

NEW BRANCHES BY BANK The localisation of the new branches meets two main principles: 16 - market attractiveness (potential customers, competition) -achievement of a market share of 3-5% CR Carrara 10

The plan may be revised according to the last acquisitions TOTAL 26

BANCA CARIGE 27 IT innovation

6.1% 2008-2010 Strategic Plan foresees IT investments for ~ 150 5.0% 5.4% €m in order to: 48.0% 2005 2007 2010 • raise the operating processes’ efficiency IT costs / revenues • improve the commercilial effec tiveness 39.0% 35.6% The increase of IT costs in the next three years will be offset by the savings on personnel expenses: only 65% of the staff 43.0% 2007 2010 that is going to retire will be replaced (apart from the 33.6% 2005 29.5% recruiting for the new openings and the ISP employees). IT+HR Costs / revenues

2005 2007 2010 HR costs / revenues

PRODUCTION DISTRIBUTION SUPPORT

ISP AND UNICREDIT BRANCHES INTEGRATION

CONSUMER CREDIT NEWCO NEW OPENINGS LEAN ORGANISATION

NEW FRONT OFFICE BASEL II

REMOTE CHANNELS PFP (microchip, ATM)

COLLABORATION BRANCHES-INSURANCE AGENTS

LIGURIA PROJECT (CUSTOMER SEGMENTATION)

COMMERCIAL STRENGTHENING PROGRAMME

BANCA CARIGE 28 Agenda

Carige Group Overview

Strategic Plan 2008-2010 and FY 2007 Results

Strategic Plan Execution

1H08

Annexes

BANCA CARIGE 29 1H08

Deposits Loans Net Profit

+ 10.4% + 16.3% 111 100.5 + 14.4% 42,3 37 19.4 16.7

1H07 1H08 1H07 1H08 1H07 1H08

Revenues Core - Revenues Costs

+ 13.8% + 7,6% + 1.0% 278.4 479.8 484.3 454.4 517.2 258.6

1H07 1H08 1H07 1H08 1H07 1H08

Cost-Income Core Cost-Income

53.9% 57.5% 56.9% 53.8%

1H07 1H08 1H07 1H08

BANCA CARIGE 30 Agenda

Carige Group Overview

Strategic Plan 2008-2010 and FY 2007 Results

Strategic Plan Execution

1Q08

Annexes

BANCA CARIGE 31 Distribution New Front Office

What is it? A new integrated and marketing oriented sales system: a new IT platform & a new branch layout

Scope of the • From a “traditional branch” to a new “financial shop” project • A customer oriented approach • A paperless model

Project • A single access point (single sign on) for an integrated platform of highlights relationship management with a stronger commercial approach • Applications involved: teller , commercial and operational

• First tests: end of February 2007 • Roll out of teller , commercial and operational components: end of Development December 2007 of the project • Replacement of the operating system and roll-out of the whole process: end of December 2008

BANCA CARIGE 32 Distribution Liguria Project (customer segmentation)

Reorganisation of the Liguria distribution channels through customer What is it? segmentation

Scope of the • Increasing the “revenues per customer” ratio project • Up-selling and cross selling on existing customers

• Introduction of new distribution channels: affluent and small Project business consultants in addition to Large Corporate, SME and Private highlights consultants • Great potential to exploit: Carige has the leadership in Liguria (market share 30%) but more than 200,000 customers (about 33%) have only a product and in average each customer has 2.6 products (current account included)

• all Liguria branches involved in the project State • 140 affluent consultants of the art • 172 small business consultants

BANCA CARIGE 33 Distribution Commercial strengthening programme

A structural reengineering of the branches’ selling process (branches What is it? outside Liguria)

• Improvement of the branch cost/income ratio outside Liguria: target Scope of the cost/income <50% • Creation of the organisational conditions (structure, skills and project systems) to permanently support the network in further commercial development of the Group (“selling more and selling better”)

• 250 branches involved •7 phases of th e proj ect (fi rst p hase starte d in Novem ber 2004, th e last in October 2005) Project • A customer analysis system highlights • Identification of commercial initiatives / alliances on the target customers • A dedicated sale channel (developers and call center) • A dedicated monitoring system

BANCA CARIGE 34 Distribution Results of the two programmes

Cost Income

State of 30% Commercial the art 2004 50% within Strengthening 2010 Programme -16pp (Outside Liguria) 2007 34%

2004 32% Liguria Project -5pp 2007 27%

BANCA CARIGE 35 Distribution Collaboration between branches and insurance agents

What is it? A definition of a set of rules and methods in the relationship between branches and insurance agents (Project name: “Insieme di più”)

Scope of the Increasing the cross-selling ratio between banks’ customers and project insurances’ customers through the respective customer base

• Monitoring and coordination system at a central level Project • A system based on customers’ lists and referrals highlights •Exploitation o f natura l s ki lls: ban ks ’ emp loyees se ll ban king products to insurance customers and insurance agents sell insurance products to bank customers

Customers of the Group Shared customers a high potential still to 1,900 exploit, 1,200 90,000 shared mainly customers outside 700 within 2010 Liguria

TOTALFROM FROM Shared customers BANKS INSURANCE

BANCA CARIGE 36 Production Consumer Credit

A newco (Creditis Servizi Finanziari SpA) in the sector of the What is it? consumer credit

• Growth in the penetration of consumer credit products both on the Scope of the Carige client base and on the open market project

• Headquartered in Project • Business Model - products: personal loans, revolving cards, salary backed loans highlights - commercial focus: Cariggy,pe customers base for first 2 years, then open market • Business plan targets (Y5 after start): - net profit : 13 €m - volumes: more than 1 €b

State • Constitution of the newco at 2006 Year-end of the art • Start of the commercial activities: 1H08

BANCA CARIGE 37 A trend in step with the market…

…and liquidity growth year by year

800 M 40% 33.9%

600 M 22.5% 30% 17.9% CARIGE SHS EXCHANGES Carige SHS Market exchanges (a) 20% 400 M 13.0% exchanges managed by Carige branches (b) %/b% a/b

200 M 10%

0% 0 2004 2005 2006 2007

BANCA CARIGE 38 Organizational structure

CHAIRMAN Giovanni Berneschi

GENERAL MANAGER Alfredo Sanguinetto

Internal Auditing

MANAGEMENT CONTROL ADMINISTRATION & SUPPORT Giacomo Ottonello Ennio La Monica

PRODUCTION DISTRIBUTION Mario Cavanna Carlo Arzani

Consumer Corporate Wealth Payment Marketing & Branch Other Lending Lending Management Systems Commercial Network Sales Planning Channels

BANCA CARIGE 39 Contacts

Giacomo Burro CFO & Wealth Management Director [email protected] Tel: +390105794580

Emilio Chiesi Head of International Funding & UK Representative [email protected] Tel: +442076002608

Maurizio Marchiori Head of Planning [email protected] Tel: +390105794868

Roberta Famà Investor Relations [email protected] Tel: +390105794877

BANCA CARIGE 40 Disclaimer

This document has been prepared by Banca Carige SpA solely for information purposes and for use in presentation of the Group ’ s strategies and financials . The information contained herein has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Neither the company, its advisors or representatives shall have any liability whatsoever for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. The forward-looking information contained herein has been prepared on the bas is o f a num ber o f assump tions w hic h may prove to be incorrec t and , accor ding ly, act ual result s may vary.

This document does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

The distribution of this presentation in certain jurisdictions may be restricted by law. Recipients of this presentation should inform themselves about and observe such restrictions.

The information herein may not be reproduced or published in whole or in part, for any purpose, or distributed to any other party . By accepting this document you agree to be bound by the foregoing limitations.

*****

The manager responsible for preparing the company’s financial reports Ennio La Monica declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that the accounting information contained in this presentation corresponds to the document results, books and accounting records.

BANCA CARIGE 41